Rolls-Royce to Acquire Electric Holding

Thursday, July 10, 2008

Rolls-Royce has announced its intention to acquire Scandinavian Electric Holding (SEH), a supplier of system packages for diesel-electric marine propulsion systems, continuing its growth strategy in the marine market. The acquisition, from Borea Opportunity II AS, requires approval from the Norwegian competition authorities, which is expected to be completed within a few weeks.
Rolls-Royce will purchase 100 per cent of the equity of SEH for cash consideration of $84m. The company will form part of the Rolls-Royce marine business.

The acquisition is consistent with the company's strategy of adding new capabilities and expanding into integrated power systems. SEH currently employs 150 people, in , , and , and recorded sales of £40 million in 2007 and has a current order book of £100 million. SEH has a strong track record in offshore supply and service vessels, and will extend system design capability for Rolls-Royce UT Design offshore support and service vessels.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

No Clues on Hanjin's Financial Health

Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else.   According to Korea Herald, the country's No.

DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0682 sec (15 req/sec)